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SimpliSafe

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SimpliSafe, Inc.
Company typePrivate
IndustryHome security
Founded2006; 18 years ago (2006)
FoundersChad Laurans
Eleanor Laurans
HeadquartersBoston, Massachusetts, U.S.
Area served
United States, United Kingdom
Key people
Christian Cerda, CEO
ProductsHome security systems
Number of employees
1200[1]
Websitesimplisafe.com

SimpliSafe is a home security company headquartered in Boston, Massachusetts. The company produces and sells home security systems and monitoring services.

History

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2006-2009: Founding

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SimpliSafe was founded in 2006 by then-Harvard Business School students, Chad and Eleanor Laurans after several friends in the Cambridge area experienced home break-ins, but couldn't find a security company that was designed to help renters.[2][3]

The couple worked on SimpliSafe in their own home from 2006 to 2008.[2][4] Mr Laurans designed the system and tested it at friends’ residences for feedback.[2] SimpliSafe officially launched in 2009 with initial funding from angel investors, introducing the industry's first do-it-yourself (DIY) home security system.[5][6]

2010-2015

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In 2010, revenue for the company was $1.4 million.[7] In 2013 revenue was $38.5 million.[8]

In May 2014, Sequoia Capital invested $57 million in SimpliSafe through a Series A round of funding.[9][10][5] The same year, the company was reported to have more than 100,000 subscribing customers and was listed as the second-fastest growing company in the Boston area on the Inc. 5000 list.[6][8]

In 2015, SimpliSafe grew from 100 employees to about 250 employees, and was reported to have 300,000 customers.[2][11]

That same year, SimpliSafe launched its products to retailers nationwide, including Amazon, Best Buy, Walmart and Target.

2016-2019

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In February 2016, independent security firm IOActive identified a potential RF system vulnerability that could be used to target SimpliSafe and other RF-based monitoring systems, allowing them to be disabled.[12] The company acknowledged the vulnerability, noting that the vulnerability was caused by unencrypted signals. In 2018, the company released a firmware update that encrypted all signals to solve the vulnerability.[13]

In June 2017, SimpliSafe launched its SimpliCam security camera as well as Video Verification, a feature that allows SimpliSafe's professional monitoring agents to view camera recordings and verify that an active emergency event is taking place within the home.[14][15]

In January 2018 at the Consumer Electronics Show (CES), the company introduced the third-generation  version of its product line that allowed frequent firmware updates of the technology to address the RF vulnerability.[16][17] The revamped system also introduced a new look to its products, designed in conjunction with design firm IDEO.[16]

On June 29, SimpliSafe announced that private equity firm Hellman & Friedman had taken a controlling interest in the company in a deal valued at $1B.[18] In October, the company launched its Video Doorbell Pro, the second camera in its product line-up, to give customers better visibility of activities happening outside the home.[19]

In April 2019, SimpliSafe expanded internationally, opening an office in Manchester, England. This expansion enabled the company to offer a selection of its home security products to homeowners across the United Kingdom.[20]

On August 21, 2019, SimpliSafe announced the launch of its Smart Lock.[21] In December of that year, the company announced Christian Cerda, previously the Chief Operating Officer at iRobot, as its new CEO.[22]

2020-2024

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In 2020, SimpliSafe launched a customer support center in Richmond, VA.[23]

In August 2021, SimpliSafe added a third camera to its suite of products, the Wireless Outdoor Security Camera, expanding the company's protective services outside of the home.[24]

In May 2022, SimpliSafe raised in excess of $200 million of incremental funding to support growth, while also refinancing its existing facilities. This funding was provided by the affiliates of Capital One, N.A., HPS Investment Partners, Owl Rock [a division of Blue Owl] and Eastern Bank.[25]

In October 2022, SimpliSafe opened the home security industry's first owned-and-operated monitoring center in Richmond, VA. Later that year, SimpliSafe also launched a Bell Box to the United Kingdom, the most requested United Kingdom customer product.[26]

At the beginning of 2023, SimpliSafe relocated its headquarters, moving from its first Boston office at 294 Washington Street to 100 Summer Street.[27] The new headquarters features a dedicated research and development lab and a maker space.[28]

In June 2023, SimpliSafe launched the Smart Alarm Wireless Indoor Security Camera, alongside a new  24/7 live guard protection service.[29] The monitoring feature allows professional monitoring agents to interact with intruders via the camera and alert emergency authorities about crimes in progress.

That same year, SimpliSafe added two new members to its executive team including Crystal Caliguiri as Chief Customer Experience Officer and Rebecca Zavin as Chief Technology Officer.[30]

Products and services

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System overview

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All of SimpliSafe's systems include a Base Station and a Keypad.[10] Systems are designed to be self-installed, but SimpliSafe also offers the option for professional installation.[31] Previous systems worked on a cellular connection, while the third-generation system runs on both cellular and Wi-Fi to prevent a loss of service during a cellular outage.[16] The wireless system also runs on lithium batteries, and can't be disabled by cutting the user's power.[32] As a standalone product, SimpliSafe systems function as a noise-only alarm system, emitting an 85-decibel siren.[33]

Services

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In addition to selling hardware products, SimpliSafe offers self-monitored and professionally monitored security plans without long-term contracts.[34]

  • Fast Protect Monitoring: Provides 24/7 emergency dispatch, including police, firefighters, and EMS.
  • Standard Monitoring: Offers continuous monitoring with emergency dispatch capabilities and environmental alert notifications.

Integrations

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On April 10, 2018, SimpliSafe integrated with August Smart Lock, allowing SimpliSafe users to lock and unlock their door automatically upon arming and disarming their system, respectively. [35] SimpliSafe also integrated with Amazon Alexa in 2018. Alexa users are able to check their system status with voice commands, as well as arm — but not disarm — their system. [36] On Sep 19, 2018, SimpliSafe integrated with Google Assistant. As with Alexa, SimpliSafe users can check their system status or arm their system with voice commands. [37]

Recognition

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SimpliSafe has been recognized with several awards since its inception, highlighting its technological innovations and company culture. Notable awards include:



References

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  1. ^ Chesto, John (April 20, 2023). "SimpliSafe settles into much bigger downtown digs, a rare office expansion in COVID era". Boston Globe.
  2. ^ a b c d Kirsner, Scott. "SimpliSafe's success awakens sleeping giant". Beta Boston. Retrieved 23 May 2016.
  3. ^ "HBS START-UP: SAFE AT HOME". Harbus. Retrieved 17 May 2016.
  4. ^ Harish, Alon (10 September 2009). "Yale Daily News". Elis offer home security options. Retrieved 25 May 2016.
  5. ^ a b Paley, Eric. "10 Startup Lessons from SimpliSafe CEO Chad Laurans". BostInno. Retrieved 17 May 2016.
  6. ^ a b Alspach, Kyle. "SimpliSafe gets $57 million investment from Sequoia Capital". Boston Globe. Retrieved 17 May 2016.
  7. ^ Bernard, Gillis. "24 Boston-Area Tech Companies Score Spots on Inc.'s 5000 List". BostInno. Retrieved 17 May 2016.
  8. ^ a b "SimpliSafe Home Security". Inc. Retrieved 20 May 2016.
  9. ^ Shieber, Jonathan (22 April 2014). "Sequoia Backs Simplisafe In A Play For The Home Security Market". TechCrunch. Retrieved 17 May 2016.
  10. ^ a b Bernard, Gillis (21 May 2014). "SimpliSafe Raises $57M from Sequoia Capital for Connected Home Security Systems". BostonInno. Retrieved 17 May 2016.
  11. ^ Alspach, Kyle. "How SimpliSafe Is Becoming a Rare Consumer Tech Winner for Boston". BostonInno. Retrieved 17 May 2016.
  12. ^ Zonenberg, Andrew (17 February 2016). "Remotely Disabling a Wireless Burglar Alarm". IOActive. Retrieved 17 November 2016.
  13. ^ "Our Commitment to Your Security". SimpliSafe Blog. Retrieved 2016-11-17.
  14. ^ "SimpliSafe will keep a closer eye on your home's security". CNET. Retrieved 2017-05-11.
  15. ^ "Security Camera Allows Users to Live Stream Intruders to Police | Electronics360". electronics360.globalspec.com. Retrieved 2017-09-11.
  16. ^ a b c "SimpliSafe reinvents its home security system to make it smarter, more effective". Digital Trends. 2018-01-10. Retrieved 2018-02-06.
  17. ^ "With new system, SimpliSafe looks to fend off big-name competition - The Boston Globe". BostonGlobe.com. Retrieved 2018-02-06.
  18. ^ "Hellman & Friedman deal values SimpliSafe at $1B – TechCrunch". techcrunch.com. 29 June 2018. Retrieved 2018-06-29.
  19. ^ Crist, Ry (October 18, 2018). "liSafe launches a new video doorbell for $169". CNET. Retrieved March 24, 2020.
  20. ^ Begum, Shelina (June 25, 2019). "US security company SimpliSafe puts down roots in Manchester with new UK HQ". BusinessLive.
  21. ^ Reichert, Corinne. "SimpliSafe has a smart lock coming". CNET. Retrieved 24 February 2020.
  22. ^ "Home security company SimpliSafe names former iRobot COO as CEO". Boston Business Journal. 2019-12-03. Retrieved 2020-09-08.(subscription required)
  23. ^ "Home security firm picks Willow Lawn for $5M call center". Richmond BizSense. 2020-02-28. Retrieved 2020-08-02.
  24. ^ Altland, Rikka (August 31, 2021). "SimpliSafe debuts first Outdoor Cam with 1080p recording and 140-degree field of view". 9to5Toys.
  25. ^ "SimpliSafe funding & investors". Tracxn.
  26. ^ Jones, Sean (January 9, 2023). "Home security company SimpliSafe opened Henrico monitoring facility while making 400 hires in 2022".
  27. ^ Chesto, John (April 20, 2023). "SimpliSafe settles into much bigger downtown digs, a rare office expansion in COVID era". Boston Globe.
  28. ^ Benson, Robert (May 1, 2023). "SimpliSafe Office Tour in Boston". VentureFizz.
  29. ^ Rich, Rob (June 26, 2023). "SimpliSafe's Latest Security Camera Adds AI and Optional 24/7 Live Guard Protection". LifeWire Tech for Humans.
  30. ^ Maffei, Lucia (January 26, 2024). "Meet Simplisafe's new head of tech, who cut her teeth at Google". Boston Business Journal.
  31. ^ Crist, Ry. "SimpliSafe Home Security review: Simply a better way to secure your home". CNET. Retrieved 17 May 2016.
  32. ^ Donnell, Wendy. "SimpliSafe Home Security System". PCMag. Retrieved 25 May 2016.
  33. ^ "SIMPLISAFE". uncrated. Retrieved 24 May 2016.
  34. ^ Turner, Gabe (May 10, 2024). "https://www.security.org/home-security-systems/simplisafe/". securitty.org. {{cite web}}: External link in |title= (help)
  35. ^ Price, Molly. "SimpliSafe and August Smart Locks join forces for home security". CNET. Retrieved 24 February 2020.
  36. ^ Crist, Ry. "SimpliSafe's DIY home security system now works with Alexa". CNET. Retrieved 24 February 2020.
  37. ^ Seifert, Dan (19 September 2018). "SimpliSafe's home security system now works with Google Assistant". The Verge. Retrieved 24 February 2020.
  38. ^ "America's Best Customer Service 2024". Newsweek. May 14, 2024.
  39. ^ "2021 Best Places to Work: Here are the BBJ's honorees". Boston Business Journal. May 14, 2024.
  40. ^ Campbell, Sierra (March 1, 2024). "Best Home Security Systems". U.S. News.
  41. ^ Lacoma, Tyler (May 8, 2024). "Best DIY Home Security Systems of 2024". CNET.
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